Schrödinger, Inc. (NASDAQ:SDGR) Position Boosted by Lazard Asset Management LLC

Lazard Asset Management LLC lifted its position in shares of Schrödinger, Inc. (NASDAQ:SDGR - Free Report) by 3.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,700,909 shares of the company's stock after buying an additional 58,541 shares during the period. Lazard Asset Management LLC owned approximately 2.33% of Schrödinger worth $32,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Avanza Fonder AB acquired a new stake in Schrödinger in the 4th quarter valued at approximately $577,000. Barclays PLC increased its holdings in Schrödinger by 421.6% in the 3rd quarter. Barclays PLC now owns 107,554 shares of the company's stock valued at $1,995,000 after purchasing an additional 86,933 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Schrödinger in the 4th quarter valued at approximately $325,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in Schrödinger by 60.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,510,518 shares of the company's stock valued at $67,718,000 after purchasing an additional 1,319,464 shares during the last quarter. Finally, Amundi increased its holdings in Schrödinger by 197.7% in the 4th quarter. Amundi now owns 26,753 shares of the company's stock valued at $544,000 after purchasing an additional 17,766 shares during the last quarter. Institutional investors and hedge funds own 79.05% of the company's stock.

Schrödinger Price Performance

Schrödinger stock traded down $0.56 during mid-day trading on Thursday, reaching $23.36. The company had a trading volume of 1,476,708 shares, compared to its average volume of 846,368. Schrödinger, Inc. has a 1 year low of $16.60 and a 1 year high of $28.47. The company has a market capitalization of $1.71 billion, a P/E ratio of -9.98 and a beta of 1.84. The stock's 50-day simple moving average is $22.85 and its 200-day simple moving average is $21.93.

Schrödinger (NASDAQ:SDGR - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.81) by ($0.01). The business had revenue of $59.55 million during the quarter, compared to analyst estimates of $54.60 million. Schrödinger had a negative net margin of 91.84% and a negative return on equity of 35.77%. The firm's revenue for the quarter was up 62.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.86) earnings per share. On average, equities analysts forecast that Schrödinger, Inc. will post -2.37 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on SDGR shares. Piper Sandler dropped their price target on shares of Schrödinger from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. KeyCorp boosted their price target on shares of Schrödinger from $30.00 to $32.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $32.80.

Insider Activity

In related news, insider Karen Akinsanya sold 16,723 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $25.09, for a total transaction of $419,580.07. Following the sale, the insider now owns 15,625 shares in the company, valued at approximately $392,031.25. This trade represents a 51.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Geoffrey Craig Porges sold 5,491 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $21.76, for a total transaction of $119,484.16. Following the sale, the chief financial officer now owns 27,544 shares in the company, valued at approximately $599,357.44. This trade represents a 16.62% decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.60% of the company's stock.

About Schrödinger

Schrödinger, Inc, together with its subsidiaries, develops physics-based computational platform that enables discovery of novel molecules for drug development and materials applications. The company operates in two segments, Software and Drug Discovery. The Software segment is focused on licensing its software to transform molecular discovery for life sciences and materials science industries.